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GOLDMAN SACHS: The government shutdown will take a toll on the US economy, but the pain won’t last long

Goldman Sachs says that the government shutdown will result in a 0.2% reduction in first-quarter GDP for every week it persists.

Wall Street is watching a key recession indicator that keeps flashing yellow

BI PRIME: The gap between short- and long-term bond yields has remained narrow, a sign of weak economic prospects, while the stock market has surged.
A man with a megaphone announces the closure of the Statue of Liberty, a U.S. National Park, due to the U.S. Government shutdown to tourists at the ferry dock to the Statue of Liberty in Battery Park in New York, October 1, 2013.

The US government shutdown shenanigans pose a threat that investors are missing

BI PRIME: The US economy will keep humming along at a decent but unspectacular pace regardless of the outcome of this week’s widely-watched budget negotiations in Washington aimed at averting a government shutdown.
Chinese President Xi Jinping raises his hand as he takes a vote at the closing session of the 19th National Congress of the Communist Party of China at the Great Hall of the People, in Beijing, China October 24, 2017.

China is heading toward a debt crisis that will throw into question everything we think we know about its economy

BI PRIME: China’s worrisome build-up of corporate and household debt is well-documented, but fears of a financial crisis have receded sharply from the turbulent days of 2015-2016.
Occupy Wall Street demonstrators participating in a street-theater production wear signs around their neck representing their student debt during a protest against the rising national student debt in Union Square, in New York.

America’s student debt crisis is worse than we thought

BI PRIME: A new Brookings Institution report projects substantially worst student loan defaults than previous estimates.
Federal Reserve Chair Janet Yellen

Fed officials are scrambling to figure out how to fight the next recession

BI PRIME: Fed officials are considering a shift away from their current inflation targeting framework toward more aggressive measures to combat low inflation.
ohn Williams, president of the Federal Reserve Bank of San Francisco, speaks in San Francisco, California March 27, 2015.

A top Fed official says a policy shift once seen as radical is ‘not nearly as scary as you might think’

BI PRIME: Williams is worried the Fed has a "credibility problem" because it has fallen short of its 2% inflation target for much of the economic recovery.

The world is swimming in a record $233 trillion of debt

Global debt soared to a record $233 trillion in the third quarter of 2017, according to a report from the Institute of International Finance.
Detroit businessman Dan Gilbert is leading an effort to get Amazon to build its second headquarters in Motor City.

To lure Amazon’s HQ2, Detroit would free it from many taxes — and allow it to pocket employees’ state income taxes for 20 years

Detroit is among more than 200 US cities bidding for Amazon's new headquarters. It hopes to entice the company with some big tax breaks.
A tower of Abengoa solar plant at "Solucar" solar park is pictured in Sanlucar la Mayor, near the Andalusian capital of Seville, southern Spain November 13, 2015.

At least 40% of the world’s power will come from renewable sources by 2040 — here are the companies leading the charge

Renewable energy is set to dominate the way the world is powered. Thomson Reuters released its inaugural list of the top companies in the sector.